TDS (Tax Deduction at Source) on Sale / Purchase of Properties, under Section 194-1A of the Income Tax Act

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The Buyer has to deduct TDS (under section 194-1A of the Income Tax Act), at the rate of 1% of the total Sale Consideration. Note that the Buyer is required to deduct the TDS, not the Seller. The rate is 0.75% for property transactions carried out from 14th May-2020 to 31st March-2021. No TDS is required to be deducted if Sale Consideration is less than Rs. 50 Lacs.

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